Indian Stock Market Post Session Report, Dated 19/05/2010
Intense selling pressure across the bourses, led the domestic markets to end the volatile trade on deep red note. The domestic markets remain on the sellers’ radar since the initial bell on the back of negative global cues, after Germany sharpened financial regulations. The Asian market opened on pessimistic note and dipped most in the last 3 months after Germany’s financial regulator – BaFin banned naked short-selling in government bonds. Also, the U.S markets ended lower on Tuesday, 18th May 2010, as the strengthening of financial regulations from Wall Street to Frankfurt adding worries about the sustainability of the global economic recovery. Moreover, the European shares also open with a negative note, amid Germany’’s move to ban some naked shorting and Euro hit a new four-year low against the dollar. All these led the investors’ sentiments turned bearish, which led to the heavy selling pressures across the sectoral indices. The market breadth, indicating the overall health of the market was negative as all the 13 sectoral indices closed in red. On the sectoral front – Metal, Realty, Bankex and Auto stocks edged lower. The BSE Sensex closed below 16,410 mark and NSE Nifty ended below 4,920 level.
Today, the key benchmark indices belled the day’s trade with negative note in line with the Asian peers. Moreover the selling activity across the selective pivotal made the BSE Sensex to touch its intraday low in the final hours at 16,373.32 and NSE Nifty at 4,908.15, as investors were tracking eye on the global peers. After a weak start, the key benchmark Indices traded range bound with negative bias on weak trade in global stocks. Besides, the negative European Markets also extended the fall, made the domestic markets to fall further. Besides, the U.S stocks tumbled on overnight trade, as the strengthening of financial regulation from Wall Street to Frankfurt crushed bank stocks, adding to worries about the sustainability of the global economic recovery. The Dow Jones Industrial Average fell 114.88 points or 1.08% to 10,510.95. The Standard & Poor’’s 500 Index lost 16.14 points, or 1.42% to 1,120.80. The Nasdaq Composite Index shed 36.97 points, or 1.57% to 2,317.26. Back home, after a lackluster opening in the morning trade, the key benchmark indices continued to trade in negative territory with other global peers, led by worries that the German ban on naked short-selling of some securities, coupled with strengthening financial regulation in the U.S, would derail the global economic recovery.
Among the Sensex pack 27 stocks ended in red territory and 3 in green territory. The overall market breadth was negative as out of total 2,918 stocks traded on BSE, 2198 stocks declined whereas 645 stocks advanced and 75 stocks are unchanged.
The BSE Sensex closed lower by 467.27 points or (2.77%) at 16,408.49 while NSE Nifty ended lower by 146.55 points or (2.89%) at 4,919.65. BSE Midcap closed with a loss of 177.09 points or (2.55%) at 6,779.62 while BSE Smallcap closed with a loss of 224.05 points or (2.54%) at 8,588.45. The BSE Sensex touched intraday high of 16,802.39 and intraday low of 16,373.32.
Losers from the BSE Sensex pack were – Tata Motors (7.39%), Sterlite Inds (7.33%), ICICI Bank (7.24%), M&M (5.92%), Reliance Comm (5.66%), Jaiprakash Asso (5.52%), Hindalco Inds (3.93%), Tata Steel (3.59%), DLF (3.58%), ITC (3.48%), Reliance Infra (3.32%), Bharti Airtel (3.08%) and HUL (2.97%)
Gainers from the BSE Sensex pack were – Hero Honda (0.59%), Cipla (0.29%) and Tata power (0.27%)
On the economic front, a top government official has said that India’’s government borrowing could be lower by up to 350 bn rupees in the current financial year from earlier estimates of 4.57 trillion rupees on higher 3G spectrum sale inflows.
However, reflecting a sluggish growth in construction of National Highways, the Surface Transport Ministry could utilise just about 40 % of the Rs 30,000 crore allocated for 2009-10. According to the Planning Commission’’s report on highways development for 2009-10, the Ministry spent only Rs 11,608 crore in 2009-10 against a target of Rs 29,934.67 crore under various phases of the National Highways Development Project (NHDP).
Besides, the economic crisis-worn exports sector posted a staggering 36.2 % growth in April to $16.9 bn.
Also, India’’s April imports have recorded surge an annual 43 per cent to $27.3 billion, Trade Secretary Rahul Khullar said.
On the global markets front, the Asian markets that opened before the Indian market, ended in red. Jakarta Composite lost 3.69% at 2,729.48, Straits Times fell 2.40% at 2,776, Hang Seng slipped 1.83% at 19,578.98 and Seoul Composite inched down by 0.80% at 1,630.08.
European markets, which opened after the Indian market, are trading in red. Key benchmark indices like – CAC 40 is down by 2.69% at 3,520.14, in Frankfurt DAX index is trading low by 2.52% at 6,000.65 and in London FTSE 100 is trading low by 2.24% at 5,188.27.
The BSE Realty index was at 3,113.20 down by 128.12 points or by (3.95%). The main losers were Unitech (5.98%), Orbit Corp (5.40%), HDIL (4.67%), Indiabulls Real Est (4.59%), DLF (3.58%), Sobha Dev (3.41%) and Sunteck Realty (2.92%).
The BSE Metal index was at 14,912.62 down by 652.66 points or by (4.19%). WELSP GUJ SR (7.39%), Sterlite Inds (7.33%), JSW Steel (6.05%), Hindustan Zinc (4.47%), Hindalco Inds (3.93%), National Alum (3.65%) and Tata Steel (3.59%) were the main losers.
The BSE Bankex index was at 10,354.33 down by 414.11 points or by (3.85%). The main losers were ICICI Bank (7.24%), Kotak Mah Bank (4.97%), IDBI Bank (4.00%), Axis Bank (3.94%), Indusind Bank (3.94%), Bank of India (3.25%) and Yes bank (2.77%).
The BSE Auto index was at 7,395.68 down by 263.84 points or by (3.44%). Tata Motors (7.39%), M&M (5.92%), Bharat Forge (5.46%), Apollo Tyres (5.21%), Ashok Leyland (3.14%), Amtek Auto (2.76%) and Baja Auto (2.15%) were the main losers.
The BSE FMCG index was at 2,836.57 down by 81.52 points or by (2.79%). The main losers were Mcleod Russel (4.68%), Ruchi Soya (3.65%), ITC (3.48%), Colgate Palmolive (3.40%), Dabur India (3.35%), HUL (2.97%) and Godrej Cons (2.45%).
On the corporate front, Piramal Healthcare fell 3.16%, reversing initial rally, after the company said its promoter has no plan to sell stake in the company.
Venus Remedies fell 3.15%, on profit booking after the stock jumped 6.41% to Rs 271.50 on Tuesday, 18 May 2010.
Weakness still prevails, Realty and Bankex index declines
The domestic benchmark indices are still trading on the back foot with no signs of recovery as the sentiments across the global markets are bearish following the move by the Germany’s financial regulator – BaFin by banning the naked short-selling in government bonds. The Asian markets are trading in negative as he Euro hit a new four-year low against the dollar in Tokyo today after a move by Germany to ban certain market trades added fuel to fears for Europe’’s banks amid a deepening debt crisis. Moreover, the US market experienced heavy selling pressures across the following the strengthening of financial regulation from Wall Street to Frankfurt crushed bank stocks, thus adding to worries about the sustainability of the global economic recovery. However, Bank of Rajasthan remained in the limelight with the stock gaining 20% to trade at Rs119.40 on BSE following the nod by its board for its merger with ICICI Bank. Meanwhile, the selling pressures emerged across Realty index (down 1.99%) along with Bankex (down 1.87%) and Metal (down 1.52%). The BSE Sensex is hovering around 16,680 mark while NSE Nifty around 4,995 mark.
On the sectoral front, out of 13 Indices, all the sectoral indices are trading in red.
The market breadth showing overall strength was weak at the moment. On BSE, out of 2,785 stocks traded so far, 1,672 stocks declined whereas 1,030 stocks advanced and 83 stocks were unchanged.
At 1:22 PM, the BSE Sensex is trading lower by 192.59 points or 1.14% at 16,683.17 while the NSE Nifty was at 5,003.80 down by 62.40 points or by 1.23%.
The BSE MIDCAP was at 6,914.71 down by 42 points or by 0.60% while the BSE SMLCAP trading at 8,781.99 lower by 30.51 points or 0.35%.
On the economic front, the deputy chairman of Planning Commission, Mr. Montek Singh Ahluwalia said yesterday that if the ongoing Greece debt crisis gets spread to other parts of Eurozone economies then India may witness a short impact of the crisis.
Gainers from the BSE Sensex pack were Infosys trading higher by 0.78% at Rs. 2643.40 followed by Hero Honda by 0.61% at Rs. 1850.30, Reliance Infra by 0.42% at Rs. 1003.40 and Cipla by 0.24% at Rs 312.
Losers from the BSE Sensex pack were Tata Motors trading lower by 4.13% at Rs. 739.65 along with Sterlite Inds by 3.99% at Rs. 660.50, ICICI Bank by 3.59% at Rs 857.40 and JP Associates by 2.55% at Rs 124.40
BSE Realty index was at 3,176.96 lower by 64.36 points or by 1.99%. The major losers were Unitech trading lower by 4.07% at Rs 73.05 along with Orbit Corp by 3.42% at Rs 263, HDIL by 1.73% at Rs 237.90, DB Realty by 1.96% at Rs 407.50, Phoenix Mill by 1.33% at Rs 208.50.
BSE Bankex index was at 10,571.43 down by 197.01 points or by 1.83%. The losers were ICICI bank trading down by 3.55% at Rs 857.75 along with Indusind Bank by 2.34% at Rs 183.60, Axis bank by 1.96% at Rs 1230, Bank of India by 1.24% at Rs 329.95 and Yes bank by 0.49% at Rs 271.60.
Chennai Petroleum Corporation Ltd proposes to build a new 9-million tonne refinery by scrapping the oldest of its three units at its Manali refinery complex in its place.
Market tumbles down further to hit fresh intraday low
Weak global market has made the key benchmark indices to hit fresh intraday low in the afternoon session and is still trading in bearish mood. Further the European market opened on a weak note following the news of the Germany’s financial regulator banning the naked short-selling in government bonds. Therefore the sentiments of the investors back home was further hampered which lead to fresh selling of the stocks across the sectoral indices. The Asian markets were also trading in negative as the Euro hit a new four-year low against the dollar. The market breadth was also weak as all the indices on BSE were in red with Realty, Bankex, Metal and Auto feeling most of the selling heat.
During the afternoon trading session at BSE, Hero Honda reported the top gainer from the Sensex pack, as the stock is now trading higher by (0.59%) while Sterlite Inds dipped by (7.04%).
At 2:30 PM BSE SENSEX was at 16,474.55 down by 401.21 points or by (2.38%) and the NSE Nifty was trading at 4,940.60, down by 125.60 points or by (2.48%).
The BSE MIDCAP was at 6,812.97 down by 143.74 points or by (2.07%) and the BSE SMLCAP was at 8,639.12 down by 173.38 points or by (1.97%).The BSE Sensex touched intraday low of 16,414.65.
The BSE Realty index was at 3,124.67 down by 116.65 points or by (3.60%). The main losers were Unitech (6.04%), DLF (4.22%), Orbit Corp (4.17%), HDIL (3.92%), Sobha Dev (3.04%), D B Realty (2.44%) and Sunteck Realty (2.04%).
The BSE Metal index was at 15,000.62 down by 564.66 points or by (3.63%). Sterlite Inds (6.68%), JSW Steel (4.97%), Hindalco Inds (4.55%), Hindustan Zinc (3.49%), WELSP GUJ SR (3.37%), National Alum (3.35%) and Sesa Goa (3.09%) were the main losers.
Furthermore Omnitech Info solutions lost 1.02% to Rs 170.00 on BSE, after net profit rose 23.24% to Rs 12.57 crore on 12.42% increase in net sales to Rs 64.90 crore in Q4 March 2010 over Q3 December 2009.
ICRA rose 1.40% to Rs 980.15 at 11:39 on BSE after consolidated net profit rose 23.5% to Rs 15.85 crore on 17% rise in net sales to Rs 50.70 crore in Q4 March 2010 over Q4 March 2009.
On the global markets front, the European markets are trading in red as CAC 40 is trading lower by 2.73% at 3,518.39 while the FTSE 100 is trading lower by 2.03% at 5,199.81 while DAX is lower by 2.11% at 6,026.14.
Indian Stock Market Mid Session Report, dated 19/05/2010
The key benchmark indices at this afternoon trade are witnessing selling pressure as sentiments in global markets turned bearish, as Asia stocks dipped most in last 3 months after Germany’s financial regulator – BaFin banned naked short-selling in government bonds. Moreover, strengthening financial regulation in the United States, would derail the global economic recovery also added to the pressures. The U.S markets ended with negative note on Tuesday, 18th May 2010, as the strengthening of financial regulations from Wall Street to Frankfurt adding worries about the sustainability of the global economic recovery. Back home, after a gap down opening, the domestic markets are trading lower on broad base selling pressure citing weak global cues. On the sectoral front – Realty and Metal stocks are witnessing most of the selling pressure. The broader market indices are trading in negative with BSE Mid Cap and Small Cap posting loss of 0.50% and 0.33% respectively. The key benchmark indices are currently trading in negative with BSE 30-share Sensex below the 16,705 mark while Nifty is below the 5,010 mark.
At 12.30 PM BSE SENSEX was trading at 16,704.26 down by 171.50 points or (1.02%) and the NSE Nifty was trading at 5,006 down by 60.20 points or (1.19%).
The BSE MIDCAP was at 6,921.72 down by 34.99 points or by (0.50%) and the BSE SMLCAP was at 8,783.55 down by 28.95 points or by (0.33%).
On the economic front, with a perspective to simplify the system governing the Unit-Linked Insurance Policies (ULIPs), a new proposal have been suggested by Insurance Regulator & Development Authority (IRDA) to do away with wide difference in charges imposed by insurers for surrendering these securities-linked products.
Also, the deputy chairman of Planning Commission, Mr. Montek Singh Ahluwalia said yesterday that if the ongoing Greece debt crisis gets spread to other parts of Eurozone economies then India may witness a short impact of the crisis.
Besides, Mr. Pranab Mukherjee, Finance Minister of India has said that said that he hopes to bring down the current more than 9 % inflation to below 5 % by the end of this financial year. He said that prices will dip once Rabi crops fully enter markets and a normal monsoon ensues, as it is expected.
On the corporate front, the Board of Directors of Bank of Rajasthan (BoR) has approved a proposal for a merger of 28 % promoter holding with ICICI Bank.
Also, the ongoing auction for 3G spectrum crossed yet another landmark and touched the revenue of Rs. 66,000 crore mark on 33rd day (i.e. 18th May 2010) while the provisional winning price for a pan-India licence surpassed Rs.16,531 crore.
At present, the market breadth indicating the overall health is negative with 1,661 stocks declining, 968 shares advancing and 89 stocks are left unchanged. The overall market breadth is negative, as all the 13 sectoral indices are trading in red. Realty (2.35%) and Metal (1.91%) stocks are the major losers.
Losers from the Sensex Pack till now are – Tata Motors (4.87%), Sterlite Inds (4.16%), ICICI Bank (3.70%), DLF (3.08%), Jaiprakash Asso (2.98%), Bharti Airtel (2.46%), Reliance Comm (2.28%) and HUL (1.91%).
The BSE Realty index was at 3,165.12 down by 76.20 points or by (2.35%). The main losers were Unitech (4.33%), DLF (3.30%), Orbit Corp (3.03%), HDIL (2.40%), Sunteck Realty (2.31%), Phoenix Mills (1.56%) and D B Realty (1.36%).
The BSE Metal index was at 15,268.12 down by 297.16 points or by (1.91%). Sterlite Inds (4.06%), JSW Steel (3.38%), National Alum (2.36%), Hindustan Zinc (2.14%), Jindal Steel (1.96%), SAIL (1.80%) and Tata Steel (1.47%) were the main losers.
On the global markets front, Asian bourses are trading in red with Nikkei 225, Straits Times, Hang Seng, Taiwan Index and KOSPI are trading in negative with a loss of 55.80, 38.60, 212.79, 26.14 and 13.16 points respectively. However, Shanghai Composite is trading in green with a gain of 4.45 points.
Indian Stock Market remained choppy on weak global cues
After a gap down opening, the key benchmark indices traded choppy on tepid trade in global stocks led by worries that the German ban on naked short-selling of some securities, coupled with strengthening financial regulation in the United States, would derail the global economic recovery. Germany on Tuesday announced a ban on some high-risk bets on bonds, stocks and certain category of credit default swaps (CDS) in a bid to curb financial speculation which it blames for much of the euro-zone’’s debt crisis. Meanwhile, sustained selling by foreign funds weighted on investor sentiment. As per the provisional data from the stock exchanges, FIIs have sold shares worth a net Rs. 6,326.62 crore this month, till May 18, 2010 and bought stocks worth a net Rs. 2,667.35 crore last month. Domestic funds have bought stocks worth a net Rs. 2,509.05 crore so far this month, till May 18, 2010. Trading in US index futures indicated that the Dow could fall 42 points at the opening bell on Wednesday, May19, 2010.
On the sectoral front, all but one of its 13 Indices fell. Metal and mining stocks slipped as copper prices dropped. Realty stocks fell on profit taking. Banking pivotal’s fell on worries over global financial jitteriness specially Euro zone countries.
The Market breadth, indicating the overall strength of the market, was tepid. On BSE, out of 2,533 stocks traded so far, 1,024 shares advanced while 1,414 shares declined. Nearly 95 shares are unchanged.
As per NSE updates, ICICI Bank (down by 4.19%), IDEA (down by 3.87%), Unitech (down by 3.67%), Tata Motors (down by 3.55%), Sterlite (down by 2.97%), Cairn (down by 2.90%) and Bharti Airtel (down by 2.50%) are the major losers from the pack along with others.
At 11:14 AM BSE SENSEX was at 16,726.48 down by 149.27 points or by 0.88% and the NSE Nifty was at 5,017.20 down by 49.00 points or by 0.96%.
The BSE MIDCAP was at 6,954.04 down by 2.67 points or by 0.03% while the BSE SMLCAP was at 8,823.46 up by 10.95 points or by 0.12%.
On macroeconomic front, the country’s Finance minister Mr. Pranab Mukherjee said yesterday that he hopes to bring down the current more than nine per cent inflation to below five per cent by the end of this financial year. He expressed hope in bringing the inflation below five per cent or at least keep it between 5-6 per cent, he said in an interview. He said that prices will dip once rabi crops fully enter markets and a normal monsoon ensues, as it is expected. He further said in respect to price rise that the steps taken by the government will surely help to bring it down and over and above this the full harvesting of rabi crops along with the good monsoon as predicted will surely bring the prices down.
The deputy chairman of Planning Commission, Mr. Montek Singh Ahluwalia said yesterday that if the ongoing Greece debt crisis gets spread to other parts of Eurozone economies then India may witness a short impact of the crisis. However, Mr. Ahluwalia pointed out that India is nowhere near the position that some small countries in the Eurozone finds themselves in. He further said that the crisis may curtail to small countries and is unlikely to spread worldwide.
JK Lakshmi Cement declined 1.52% to Rs. 64.85 on report that its net profit plunged 32.63% to Rs. 70.12 crore in Q4 Mar’10 over Q4 Mar’09.
Bank of Rajasthan was locked at upper circuit limit of 20% at Rs. 119.40 after the bank’’s board gave an in-principle nod for its merger with ICICI Bank.
Mphasis Ltd fell by 1.85% to Rs. 646.00 on buzz that they have submitted a request to the National Housing Bank and are awaiting regulatory approval.
Mandhana Industries Ltd was trading at Rs 136.10 a 4.6% premium over the initial public offer price of Rs 130.
The top losers of the BSE Sensex pack are ICICI Bank (Rs. 851.50, -4.26%), Tata Motors (Rs. 744.55, -3.50%), Sterlite Industries (Rs. 667.15, -3.02%), Bharti Airtel (Rs. 260.75, -2.63%) and DLF (Rs. 282.50, -2.33) among others.
BSE Bankex index was at 10,584.57 down by 183.87 points or by 1.71%. The main losers were ICICI Bank (Rs. 851.50, -4.26%), HDFC Bank (Rs. 1,868.00, -1.70%), Axis Bank (Rs. 1,235.30, -1.53%), Indusind Bank (Rs. 185.70, -1.22%) and Bank of India (Rs. 330.10, -1.20%) among others.
Market treads water amid weak global cues
The leading Indian bourses pulled down sharply backed by weak Asian markets after Germany sharpened financial regulations. US stocks sank on Tuesday, as the strengthening of financial regulations from Wall Street to Frankfurt adding worries about the sustainability of the global economic recovery. Back home, on company specific news, top private lender ICICI Bank has informed that it plans to buy small private sector Bank of Rajasthan, in the first consolidation of crowded banking sector since 2008. Almost all the sectoral indices in the BSE are trading in negative territory. Bankex, Metal and Realty are leading the laggard’s list with the loss of nearly 1.97%, 1.78% and 1.55% respectively. Overall market breadth is negative as out of total 2,084 stocks traded in the BSE, 1,275 stocks declined, 745 stocks advanced while 64 stocks remain unchanged.
At 10.30 IST, the BSE Sensex is trading lower by 191.44 points or by (1.13%) at 16,684.31 and the NSE Nifty is trading down by 61.8 points or by (1.21%) at 5,004.4.
The BSE Mid Cap is now trading lower by 27.44 or by (0.39%) at 6,929.27 and the BSE Small Cap is trading down by 23.23 points or by (0.26%) to 8,789.26.
Patel Engineering declined by 1.10% at Rs 416.95 despite company registered a growth of 42 per cent in its consolidated net profit at Rs. 193.32 crore for the year ended March 31, 2010 as compared to Rs. 136.36 crore reported during the corresponding period last year. Moreover, the consolidated revenues surged by 25.3 per cent to Rs. 3,081.08 crore as compared to Rs. 2,459.84 crore.
Essar Shipping Ports & Logistics Ltd dipped by 1.21% at Rs 89.8 after it informed BSE that Essar Bulk Terminal Ltd (EBTL) (a subsidiary) has commenced Commercial Operations of its all weather deep draft dry bulk port facility at Hazira, Gujarat. This berth has a capacity to handle cargoes upto 30 million tons per annum.
Losers from the BSE Sensex pack are ICICI Bank down by (4.35%) at Rs. 850.65, followed by Tata Motors down by (3.40%) at Rs. 745.30, Sterlite Ind down by (3.35%) at Rs. 664.9, DLF down by (2.45%) at Rs 282.15, Tata Steel down by (2.02%) at Rs. 520.7, Reliance Comm down by (2%) at Rs. 142.1 and Jaiprakash Associates down by (1.84%) at Rs. 125.3.
BSE Bankex index was at 10,556.24 down by 212.2 points or by (1.97%). The main losers were ICICI Bank down by (4.35%) at Rs. 850.65 followed by Axis Bank down by (1.77%) at Rs. 1,232.3, Bank of India down by (1.53%) at Rs. 329, HDFC Bank down by (1.28%) at Rs. 1,876 and IndusInd Bank down by (1.14%) at Rs. 185.85.
BSE Metal index was at 15,287.91 down by 277.37 points or by (1.78%). The main losers were JSW Steel down by (3.48%) at Rs. 1,110 followed by Sterlite Ind down by (3.35%) at Rs. 664.9, Jindal Steel down by (2.31%) at Rs. 621.8, Hindustan Zinc down by (2.24%) at Rs. 990 and Welsp Guj down by (2.06%) at Rs. 242.5.
The leading Asian bourses slipped into red today after Wall Street dropped yesterday on Germany’s decision to ban naked short selling in certain financial instruments with the resulting drop in the euro weighing on exporters around the region. Meanwhile, Hang Seng, Nikkei 225, Straits Times, Seoul Composite and Taiwan Weighted trading lower by (1.16%), (1.09%), (1.42%), (1.61%) and (0.85%) respectively.
Market opened on a weak note.
The markets opened on a weak note today tacking negative global cues. The US markets ended on a red note overnight and the Asian markets are also trading in negative. The BSE Sensex has slipped below the 16750 mark and the NSE Nifty below the 5050 mark in the early trade. All the sectorial indices are trading in red in the opening trade mainly led by the Banking, Metal and Realty index. The broader market indices are also trading weak in the early trade. Bank of Rajasthan locked in at upper circuit in the opening trade at Rs. 119.40 up by 20% on BSE after board of directors of Bank of Rajasthan (BoR) on May 18 approved a proposal from dominant shareholders of the bank for an amalgamation of 28% promoter holding with private sector lender, ICICI Bank.
At 09.37 IST, the BSE Sensex is trading lower by 171.41 points or (1.02%) at 16,704.35 and the NSE Nifty is trading down by 57.20 points or (1.10%) at 5,010.55.
The BSE Mid Cap is trading down by 18.85 points or (0.27%) at 6,937.86 and the BSE Small Cap is trading lower by 19.72 points or (0.22%) to 8,792.78.
Losers from the BSE Sensex pack are ICICI Bank down by (3.53%) at Rs. 858 followed by Sterlite Industries down by (2.83%) at Rs. 668.50, Tata Motors down by (2.61%) at Rs. 751.40, DLF down by (1.78%) at Rs. 284.10.
The Overall market breadth is negative as 666 stocks are advancing while 1099 stocks are declining and the 62 stocks remained unchanged on BSE.
The US market ended in negative on Tuesday and stocks spiked into losses nearing the sessions low. US markets made solid start amid news that European Union handing over Greece 14.5 bn euros as a part of European rescue plan. US economic data reported a fall in April Producer Price Index by 0.1%. Meanwhile, housing starts for April advanced by 5.8% at an annualized rate of 672,000 surpassing the expected 650,000. Whereas building permits for the month of April fell by 11.5% month-over-month to an annualized rate of 606,000, below the expected rate of 680,000. In the major indices, the Dow Jones Industrial Average (DJIA) closed with a loss of 114.89 points or 1.08% lower at 10,510.95, while NASDAQ index was down by 36.97 points or 1.57% to 2,317.26. The S&P 500 (SPX) fell by 16.14 points or 1.42% lower to 1,120.80.
Asian markets are trading in a negative note today as the Nikkei 225, Hang Seng, Straits Times and Seoul Composite index trading down by (0.94%), (0.92%), (1.41%) and (1.35%) respectively.
The Bankex index is trading with losses of 158.18 points or 1.47% at 10,610.26. The losers were ICICI Bank trading down 3.60% at Rs 857.30 along with Axis Bank by 1.72% at Rs 1,233, SBI by 1.02% at Rs 2,253, HDFC Bank by 1.01% at Rs 1,881.20.
FII Activity on 18-5-2010
The FIIs on Tuesday stood as net sellers in equity while net buyers in debt. Gross equity purchased stood at Rs 1,784.00 Crore and gross debt purchased stood at Rs 874.50 Crore, while the gross equity sold stood at Rs 2,815.60 Crore and gross debt sold stood at Rs 123.50 Crore. Therefore, the net investment of equity and debt reported were Rs (1,031.6) Crore and Rs 751.00 Crore respectively.
Foreign Stock Market Headlines, Dated 19/05/2010
On Tuesday, the US market reported a solid start, but as dollar overpowered euro, market turned negative and stocks spiked into losses nearing the sessions low. Following the news of European Union handing over Greece 14.5 bn euros as a part of European rescue plan supported the overseas market. Taking cues from global counterparts US market also extended its gain recorded in the previous session. Mood of the global participants was further supported by the strength in euro. However, euro soon experienced a downturn as Germany banned unprotected selling of certain financial stocks, credit default swaps, and government bonds resulting in the fall of euro by 1.5% to a fresh four year low which was just above 1.2200 per dollar, thus helping dollar index advance 1.1% to a fractionally improved 52-week high. Due to euro’s withdrawal and dollar’’s rally fuelled broad-based selling which continued for most of the session. Stocks attempted to steady their descent in the final hour, but failed and settled near their worst levels of the day. US economic data reported a fall in April Producer Price Index by 0.1%. Meanwhile, housing starts for April advanced by 5.8% at an annualized rate of 672,000 surpassing the expected 650,000. Whereas building permits for the month of April fell by 11.5% month-over-month to an annualized rate of 606,000, below the expected rate of 680,000. In spite of reporting better than expected earning by some retailers, retail sector reported a collective loss of 2.5%. Stocks of retailers like TJX Companies (TJX 43.44, -1.81), Abercrombie & Fitch (ANF 38.98, -1.80), and Home Depot (HD 34.74, -0.85) were down in spite recording a better-than-expected earnings. Whereas Wal-Mart (WMT 53.71, +0.98) gathered some support from its quarterly results. All the major sectors closed the session in negative territory; weakest performer for the session was Financials down by 2.8% on the back of weakness among the banking stocks.
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a loss of 114.89 points or 1.08% lower at 10,510.95, while NASDAQ index was down by 36.97 points or 1.57% to 2,317.26. The S&P 500 (SPX) fell by 16.14 points or 1.42% lower to 1,120.80.
Crude oil prices declined to seven month low as rising dollar and falling stocks squeezed the potential bounce back in crude prices. Crude oil for June delivery was down by $0.67 or 1% to settle at $69.41 per barrel on the New York Mercantile Exchange.
Gold prices declined as Labor department informed a fall in April wholesale prices by 0.1% as against the increase of 0.7% in the previous month. Gold closed with a loss of 1% at $1,214.60 per ounce. Whereas, July Silver prices surged by 0.6% to close at $19.03 per ounce.
Indian Stock Market Pre Session Report, dated 19/05/2010
Today the benchmark Indices are likely to open deep down on the back of nervousness in the Asian market and fragile trade in U.S. market overnight. The euro drops to a four-year low against the dollar, and stocks and copper retreated after Germany banned certain bearish investments, thrashing speculation that European debt crisis will worsen. The MSCI Asia Pacific Index shrunk 0.9% to 115.33. Japan’s Nikkei 225 Stock Average plunged 1.6% to 10,079.03 after Germany’s move to halt a slump in European asset prices triggered a drop in the euro and crude oil. The broader Topix deteriorated 1.4% to 901.00 dragging the Topix index by 10% from its 52-week high. China’s Shanghai Composite Index slid 16.8 points, or 0.7%, to 2,577.94 led by slide in U.S. stocks, the euro and commodities as Germany’s move to ban certain types of bearish investments spurred concern the European debt crisis will worsen and derail the global economic recovery. The CSI 300 Index lost 0.7% to 2,753.13. Separately, Strait Times and Seoul Composite are trading down by 1.56% and 1.90% respectively. In the domestic arena, the markets are likely follow the rout of global pears and trade deep down with high volatility in negative terrain on the back of weak global cues and decline in commodity prices. Oil&Gas, Banking, Metals and Realty sphere will be in focus today.
On Tuesday, the key benchmark indices ended the day’s trade on a positive note on the back of the selective buying that emerged across CG and CD stocks. Moreover, the positive European markets led the domestic bourses to march further in a positive direction. After a lackluster opening, the domestic markets moved range bound with negative bias as worries over euro zone’s fiscal health continued to haunt sentiments. The BSE Sensex cut losses in morning trade after hitting a fresh intraday low at 16,744.13 and NSE Nifty at 5,024.25. The overall market breadth was positive, as 7 out of the 13 indices ended in green. Among the sectoral indices CD and CG stocks were the main gainers. The BSE Sensex closed above 16,875 mark and NSE Nifty ended above 5,065 level.
The BSE Sensex closed higher by 40.20 points or (0.24%) at 16,875.76 while NSE Nifty ended up by 6.30 points or (0.12%) at 5,066.20. BSE Midcap closed with a profit of 29.33 points or (0.42%) at 6,956.71 while BSE Smallcap closed with a gain of 62.38 points or (0.71%) at 8,812.50. The BSE Sensex touched intraday high of 17,000.34 and intraday low of 16,744.13.
On Tuesday, the US market reported a solid start, but as dollar overpowered euro, market turned negative and stocks spiked into losses nearing the sessions low. Following the news of European Union handing over Greece 14.5 bn euros as a part of European rescue plan supported the overseas market. Taking cues from global counterparts US market also extended its gain recorded in the previous session. Mood of the global participants was further supported by the strength in euro. However, euro soon experienced a downturn as Germany banned unprotected selling of certain financial stocks, credit default swaps, and government bonds resulting in the fall of euro by 1.5% to a fresh four year low which was just above 1.2200 per dollar, thus helping dollar index advance 1.1% to a fractionally improved 52-week high. Due to euro’s withdrawal and dollar’’s rally fuelled broad-based selling which continued for most of the session. Stocks attempted to steady their descent in the final hour, but failed and settled near their worst levels of the day. US economic data reported a fall in April Producer Price Index by 0.1%. Meanwhile, housing starts for April advanced by 5.8% at an annualized rate of 672,000 surpassing the expected 650,000. Whereas building permits for the month of April fell by 11.5% month-over-month to an annualized rate of 606,000, below the expected rate of 680,000. In spite of reporting better than expected earning by some retailers, retail sector reported a collective loss of 2.5%. All the major sectors closed the session in negative territory; weakest performer for the session was Financials down by 2.8% on the back of weakness among the banking stocks. Crude oil for June delivery was down by $0.67 or 1% to settle at $69.41 per barrel on the New York Mercantile Exchange.
In the major indices, the Dow Jones Industrial Average (DJIA) closed with a loss of 114.89 points or 1.08% lower at 10,510.95, while NASDAQ index was down by 36.97 points or 1.57% to 2,317.26. The S&P 500 (SPX) fell by 16.14 points or 1.42% lower to 1,120.80.
Indian ADRs ended red on Tuesday. In the IT space, Wipro was down 0.61%, Patni Computers was up 4.05% while Infosys was down 0.74% and Satyam Computers was down 2.14%. In the banking space, HDFC Bank was down 2.70% while ICICI Bank was down 3.85%. In the telecom space, MTNL was down 0.37%.In other sectors; Rediff was down 3.52% while Tata Motors was down 1.96%.
The FIIs on Tuesday stood as net sellers in equity while net buyers in debt. Gross equity purchased stood at Rs 1,784.00 Crore and gross debt purchased stood at Rs 874.50 Crore, while the gross equity sold stood at Rs 2,815.60 Crore and gross debt sold stood at Rs 123.50 Crore. Therefore, the net investment of equity and debt reported were Rs (1,031.6) Crore and Rs 751.00 Crore respectively.
Top traded volumes on NSE Nifty – Unitech with total traded volume of 18524314, followed by Suzlon Energy with 12505947, Tata Steel with 9400801, Jaiprakash Associates with 8643007 and DLF with 8085313.
On BSE, total number of shares traded was 36.90 Crore and total turnover stood at Rs 4,421.91 Crore. On NSE, total number of shares traded were 61.73 Crore and total turnover was Rs 12,888.12 Crore.
On NSE Future and Options, total number of contracts traded in index futures was 718287 with a total turnover of Rs 17,026.78 Crore. Along with this total number of contracts traded in stock futures were 524096 with a total turnover of Rs 17,020.93 Crore. Total numbers of contracts for index options were 2231613 with a total turnover of Rs 56,957.55 Crore and total numbers of contracts for stock options were 102640 and notional turnover was Rs 3,570.03 Crore.
Today, Nifty would have a support at 4,952 and resistance at 5,055 and BSE Sensex has support at 16,627 and resistance at 16,892.